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Showing posts with the label anticipated

MCX Copper in Double Correction

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 MCX Copper continuous hourly chart From the above chart, the red metal is moving in a lower high and lower low formation and it is precisely moving in a falling channel Recently the metal faced the resistance of the channel and has broken the support today which opens further negative possibilities. As per wave theory, prices are moving in double correction pattern as per the chart (a-b-c-x-a-b-c) After completing first correction, prices formed wave x close to 740 levels and now since all the important supports are broken it is very much evident that prices are poised to falter and can move below its previous low in form of wave a of second correction. The summation is prices are poised to plunge near till 680-670 levels as far as 733 is intact on the upside.

USDINR Re-visited

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 USDINR hourly continuous chart anticipated on 18th July 2021 USDINR hourly continuous chart happened on 6th September 2021 In my previous update on USDINR I had mentioned that, "  USDINR can test 75.5 levels over short term followed by 73 over medium term." Prices went up till 75.1 and faced the resistance of the falling channel making it difficult to reach to the level of 75.5. However, the medium term view of tumbling near to 73 levels was almost achieved as it made a low of 73.1.- Anticipated Happened. Here is the link of my previous article on USDINR, click on it https://www.marketanalysiswithmeghmody.com/2021/07/usdinr-elliott-wave-analysis.html From Waves perspective, prices faltered in corrective pattern which then I have to mark as (a-b-c). This does not mean that wave Y on one higher degree is over, this can be wave a of wave Y followed by wave b ad then wave c lower. On the other hand there is also a possibility that prices have completed wave y and it is now movin

Larsen and Toubro Anticipated Happened

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 L&T daily chart anticipated on 18th July 2021 L&T daily chart happened on 13th August 2021 In my previous article on L&T, I had mentioned that, "P rices can achieve 1660-1665 levels but it is better to have a support intact for this stock, which is placed at 1450 levels. Break of this level will falter price till 1300 levels." Prices achieved the mentioned zone of 1660-1665 levels - Anticipated Happened Click on the link to check my previous article on LT https://www.marketanalysiswithmeghmody.com/2021/07/larsen-and-toubro-elliott-wave-analysis.html Elliott Wave has been applied and has delivered beautiful results over and over the time. Combining Elliott Wave with basic technical tools is the secret sauce to get these amazing results.

Nifty Bank Re-visited and Elliott Wave Analysis

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 Nifty Bank hourly chart anticipated on 9th July 2021 Nifty Bank hourly chart happened on 29th July 2021 In my previous update dated on 9th July 2021, I had mentioned for Nifty Bank, " Nifty Bank is negatively poised for short term and can test 34000 in couple of trading sessions. " First of all it did not reach the level of 34000 but made a low of 34129 on 29th July 2021. Also it did not falter in couple of sessions as wave B took more time to form than anticipated. The best part is it did fall near to my mentioned level by forming a flat pattern - Anticipated  Happened Here is the link of my previous article on Nifty Bank, click on it  https://www.marketanalysiswithmeghmody.com/2021/07/nifty-bank-elliott-wave-analysis.html Currently prices are moving in a impulsive fahion, which means it is moving in (i-ii-iii-iv-v) waves. As of now it has completed wave iv and has stated wave v which can reach till 36350-36400 levels over short term. The CMP is at 36100  The summation is N

Bitcoin Elliott Wave and Neo Wave Analysis Anticipated Happened

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 Bitcoin daily chart anticipated on 11th July 2021 Bitcoin daily chart happened on 8th August 2021 In my previous update I had mentioned for Bitcoin, " P rices can test the level of $30000 over short term followed by $44500-$44700 levels over medium term." I was anticipating the fall for Bitcoin near till $30000 and then a rise near to the immediate resistance placed at $44500-$44700, both the fall and the rise is been captured- Anticipated Happened Here is the link of the previous article which I had written on  Bitcoin, click on it https://www.marketanalysiswithmeghmody.com/2021/07/bitcoin-elliott-wave-and-neo-wave.html As per Neo Wave prices completed the diametric pattern where it fell below $30000 and then came up in an impulsive fashion to start fresh leg higher. Sustainable move above $44500-$44700 will soar prices towards its next resistance area of $51000 followed by $59500 levels. The summation is Bitcoin needs to sustain above $44500 so that it can achieve the leve

MCX NAT GAS Anticipated Happened

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 MCX Nat Gas daily continuous chart anticipated on 6th June  2021 MCX Nat Gas daily continuous chart happened on 26th July 2021 In my previous article on Nat Gas, I had mentioned that, " P rices can test 200 levels over short term which can drag prices lower, buying opportunity can be expected at these levels which can soar prices towards  300 to 315 levels over medium term." I initially thought that prices are moving in a triangle pattern and so wave e of the triangle can test 200 levels which I was wrong in the short term. However, I was correct in anticipating the medium term as it can test 300-315 levels which is achieved- Anticipated Happened Here is the link of my previous article on NAT GAS https://www.marketanalysiswithmeghmody.com/2021/06/mcx-nat-gas-reversal-pattern-and.html Prices have completed wave b in a flat pattern and following that an impulse structure can be seen which is undoubtedly wave c. Now a correction either in the form of wave x or a deeper correcti

EURINR Neo Wave Diametric Pattern Anticipated Happened

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 EURINR daily continuous chart anticipated on 5th July 2021 EURINR daily continuous chart happened on 19th July 2021 In my previous update dated 5th July 2021, I had mentioned that, "  EURINR is hovering near resistance and can sink near to 87.6-87.5 levels over short term." EURINR made a low of 87.33 on 19th July 2021, thereby achieving my mentioned level of 87.6-87.5 levels- Anticipated Happened The chart shown on 5th July or 19th July or when the article is written depicts Neo Wave diametric pattern, a seven leg pattern which has lot of variations. You can see the previous article of EURINR by clicking on the link https://www.marketanalysiswithmeghmody.com/2021/07/eurinr-neo-wave-diametric-pattern.html After completing diametric pattern there are high chances for the pair to bounce or can change the trend from negative to positive. This can be the end of wave ii or wave a of wave ii, once completed wave iii on the upside will start.

ICICI Bank Elliott Wave Analysis Anticipated Happened

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 ICICI Bank daily chart anticipated on 4th July 2021 ICICI Bank daily chart happened on 26th July 2021 In my previous update on ICICI Bank I had mentioned that, " ICICI Bank is firmly positive and can move higher from current levels close to 680-685 levels as far as 615 is intact on the downside." The banking stock move up and achieved the level of 680-685 levels by forming an expanding diagonal pattern - Anticipated Happened As per Elliott Wave, prices which were expected to move up in the form of wave c, has converted into expanding diagonal pattern, once completed there wil be a correction either in the form of wave x or bigger correction.

MCX Copper Inverse Cup and Handle Pattern and Elliott Wave Analysis Anticipated Happened

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 MCX Copper hourly continuous chart anticipated on 6th July 2021 MCX Copper hourly continuous chart happened on 26th July 2021 In my previous update I had mentioned for MCX Copper, "  MCX Copper can achieve levels of 760-765 over short to medium term with support at 712." The red metal moved sideways and marked a low of 711.4 but did not closed below 712 and continued to move higher thereby achieving my level of 760-765 levels - Anticipated happened. MCX Copper has rallied over 30-35 INR from July 6, thereby gaining 4.80% . The bias over medium term will continue to be positive and can move up from here as well. Here is the link of my previous article on MCX Copper, this will show how I had predicted the rise, click on the link https://www.marketanalysiswithmeghmody.com/2021/07/mcx-copper-inverse-cup-and-handle-and.html Now If I am correct in anticipating the rise and the wave counts I had placed then MCX Copper is least likely to fall back till 725 levels. If it does then we

Tata Steel Anticipated Happened and Elliott Wave Analysis

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 Tata Steel daily chart anticipated on 30th June 2021 Tata Steel daily chart happened on 12th July 2021 In my previous update on Tata Steel dated 30th June 2021, I had mentioned that " Tata steel is positively poised and can move higher from current levels and can test 1250 levels followed by 1280 levels over short term." Today prices opened at 1254 levels thus achieving my first target for the steel stock thus, gaining 6.30% in span of 7 trading sessions - Anticipated Happened. To read the previous article on Tata Steel click on the the below link https://www.marketanalysiswithmeghmody.com/2021/06/tata-steel-elliott-wave-analysis.html Now my second target is still pending which can be achieved in coming trading sessions thus completing wave (iii) followed b wave (iv) and wave (v), thus completing wave v in extension within extension. I will monitor this stock and keep updating, but one thing is sure that the stock still has upside left.

Ethereum ETH/USD Re-visited and Elliott Wave Analysis

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 ETH/USD daily chart anticipated on 31st May 2021 ETH/USD daily chart happened on 3rd June 2021 In my previous update on Ethereum dated 31st May 2021, I had mentioned two probabilities and it happens to be the former one to be successful. " In wave b wave wave a and wave b is over and wave c can surpass wave a of wave b which can move till $2900-3000 levels." Here is the link of my previous article on ETH, click on it https://www.marketanalysiswithmeghmody.com/2021/05/ethusd-elliott-wave-anaysis.html Here in this case price did not surpass but came close to $2900 which is 50% of the recent fall thus making it a simple zigzag pattern. The falling trend line is crossed thereby giving a bullish break and now there is high possibility for prices to climb over short to medium term. As per waves perspective, prices are moving in an impulse fashion after the bullish break, in which it has completed wave i and wave ii and it is on the verge to start wave iii which can reach near till

USDINR Re-visited

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 USDINR daily continuous chart anticipated on 13th June 2021 USDINR daily continuous chart happened on 2nd July 2021 In my previous update on USDINR dated 13th June I had mentioned, " USDINR can move higher from here and can test 73.5 levels over short term and further if it sustains above it can move till 75-75.3 levels over medium term." Prices surged from the support of the trend line and achieved my level of 73.5 followed by 75-75.3 as the pair made a high of 75.07-  Anticipated Happened. Here is the link of my previous update on USDINR which you can read just by clicking on it https://www.marketanalysiswithmeghmody.com/2021/06/usdinr-elliott-wave-analysis-and.html In past two weeks there is been huge volatility in global markets after FED dot plot revealed that they are all set to hike interest rate by 2023. Two rate hikes are all set by FED, but was this the real reason or it was well anticipated ahead of the event as USDINR achieved all my levels. As per wave theory,

MCX Nickel Re-visited

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 MCX Nickel daily continuous chart anticipated on 13th June 2021 MCX Nickel daily continuous chart happened on 28th June 2021 In my previous update on MCX Nickel, I had mentioned that, "  Prices are all set to test its resistance which is placed at 1400-1420 levels over short term with support placed at 1270 on closing basis." Prices today surpassed 1400 levels, the above chart is of July contract which will eventually test that level as well, thus - Anticipated Happened. I will monitor the future action of price and will update on timely basis, till then you can view my previous article on MCX Nickel by clicking on the link here https://www.marketanalysiswithmeghmody.com/2021/06/mcx-nickel-elliott-wave-analysis-and.html

Tata Motors Anticipated Happened

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 Tata Motors hourly chart anticipated on 5th June 2021 Tata Motors hourly chart anticipated happened on 15th June 2021 In my previous article dated on 5th June 2021, I had mentioned that , " Tata Motors is expected to cross 360 levels over short to medium term as far as 311 is protected on the lower side . " Prices surpassed 360 levels by marking a high of 360.75 thereby achieving my level - Anticipated Happened. Tata Motors is either moving in a-b-c correction or it is moving in an impulse wave of wave a of second correction post wave x, this is a concern I have raised in my previous article, in both the cases prices were expected to go up. Here is the link of my previous article https://www.marketanalysiswithmeghmody.com/2021/06/tata-motors-elliott-wave-analysis.html I will continue to monitor the movement in this stock and keep you all updated.

Nifty Diametric Pattern Anticipated Happened

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 Nifty daily chart anticipated on 22nd May2021 Nifty daily chart anticipated happened on 28th May 2021 In my previous update dated 22nd May, I had mentioned for the benchmark, " Nifty is positively poised and can surge from current levels near till 15450-15480 levels . Any retracement near to 14900-14800 will be a buying level." Nifty tested the above mentioned levels on 28th May, thereby achieving the target- Anticipated Happened. The previous article on Nifty can be viewed by clicking on the link https://www.marketanalysiswithmeghmody.com/2021/05/nifty-diametric-pattern.html I have combined Elliott Wave and Neo Wave to come to the conclusion to anticipate the future direction of the index. You can also do it by learning Wave theory with me in my one month webinar. Don't miss this webinar which is going to start from June. The details are mentioned below. Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be condu

BHEL Anticipated Happened and Elliott Wave Analysis

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 BHEL daily chart anticipated on 28th Feb 2021 BHEL daily chart anticipated happened on 6th May 2021 In my previous article dated 28th Feb 2021, I had mentioned, " BHEL is in stealth uptrend and expect it to move till 58-60 levels over short to medium term, with support at 40 levels (closing basis)." The stock moved as expected in past two months and eventually achieved my level of 58-60 on 6th May 2021- Anticipated Happened. Here is the link of my previous article on BHEL, click on the link https://www.marketanalysiswithmeghmody.com/2021/02/bhel-elliott-wave-analysis-and.html Medium to long term forecasting is a challenge but you can learn this with me in my one month webinar, the details are mentioned below. Learn Technical Analysis in our 4 month course to help you to identify better trade setups. This course will be conducted every twice in a week for around 2 hours. This theory can be applied on all free floating markets. In this course learn from basic to advance and th

MCX Gold Anticipated Happened

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 MCX Gold hourly continuous chart anticipated on 11th Apr 2021 MCX Gold hourly continuous chart anticipated happened on 21st Apr 2021 I had mentioned earlier for MCX Gold that it can move higher from current levels on 11th April 2021. In that article I wrote, " MCX Gold has a support level placed at 46000-45700 levels which can be utilized as a buying opportunity for the level of 48100 over short to medium term." The yellow metal could not test the mentioned support but achieved the target level- Anticipated Happened. Here is the link of the previous article of MCX Gold written on 11th April, click on the link https://www.marketanalysiswithmeghmody.com/2021/04/mcx-gold-elliott-wave-analysis.html Now it is difficult to know whether the trend will reverse or there will be resumption of the short term trend.  The answer to this question can be derived by combining technical tools along with advance technical analysis. You can learn both Technical Analysis along with Elliott Wave

Nifty Anticipated Happened and double correction

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 Nifty hourly chart anticipated on 29th March 2021 Nifty hourly chart happened on 8th April 2021 In my previous update on 29th March about Nifty, I had mentioned, " Nifty has a strong support at 14100-14000 levels, as far as it is intact prices are likely to soar till 14800-15000 price range in short term." The index bounced from the support and achieved my level of 14800-15000 levels as it marked a high of 14986- Anticipated Happened. Here is the link of my previous article on Nifty where I had anticipated the rise, click on the link to view the article. https://www.marketanalysiswithmeghmody.com/2021/03/nifty-elliott-wave-analysis_29.html It is very clear that prices are moving in double correction pattern (a-b-c-x-a-b-c), it completed wave x an has started moving down in form of wave a (second correction). Wave a is still ongoing and can tumble near to 14000-13800 price range. Learning Elliott Wave is difficult but practicing with learning is a simple but efficient process

MCX Zinc Anticipated Happened and Elliott Wave Analysis

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 MCX Zinc hourly continuous chart anticipated on 21st March 2021 MCX Zinc hourly continuous chart anticipate happened on 8th April 2021 In my previous update on MCX Zinc dated 21st March 2021, I had mentioned, " MCX Zinc is positively poised and can move till 230-232 levels over short term with support placed at 214 on closing basis." Zinc failed to move below 214 levels and continues to soar there by achieving the level of 230-232, thus gaining 5% in fortnight. Here is the link of my previous article on Zinc, click on it https://www.marketanalysiswithmeghmody.com/2021/03/mcx-zinc-elliott-wave-analysis.html At present, prices are moving in wave c which is impulse in nature in which it is moving in wave iii. It has also reached 78.6% of the previous fall. After that wave iv and wave v up is still pending. Elliott Wave is difficult but with practice it will make you professional from a novice trader/analyst. Learn from me how to make practical application on different charts. T

MCX Copper Anticipated Happened

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 MCX Copper hourly continuous contract anticipated on 21st Mar 2021 MCX Copper hourly continuous contract happened on 5th April 2021 In my previous update about MCX Copper, I had mentioned that, The red metal can move up till 690 levels in the form of wave a of wave b. it achieved the mentioned level on 5th April- Anticipated Happened. Here is the link of my previous article about MCX Copper, click to read it https://www.marketanalysiswithmeghmody.com/2021/03/mcx-copper-anticipated-happened-and.html After completing the first correction (a-b-c) which I have marked wave a at one higher degree, the other possibility I am opening is wave x on higher side.  In the second scenario, I am opening wave b up in which wave a has still some room. one it is down wave b of wave b will come down followed by wave c of wave b which can go till 80-100% of wave a of one higher degree. I will monitor the movement in this counter and will updates about it as it moves down to form wave b. If it retraces mo

MCX Copper Anticipated Happened and Elliott Wave Analysis

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 MCX Copper hourly continuous chart anticipated on 13th Mar 2021 MCX Copper hourly continuous chart happened on 19th Mar 2021 In my previous update dated 13th Mar 2021, I had mentioned for MCX Copper, " MCX Copper can move down till 660 levels once the level of 674 is broken accelerating selling pressure. Failure to protect the level of 687 will open positive possibilities." Prices slumped till 660 levels marking a low of 659 on the last trading day of the week once the level of 674 was broken. Anticipated Happened To read the previous article on MCX Copper here is the link https://www.marketanalysiswithmeghmody.com/2021/03/mcx-copper-elliott-wave-analysis.html Now since it has completed wave a-b-c pattern it is now clear that the red metal will travel north o form another pattern. This means the first correction fallen from the highs was wave a at one higher degree, so now wave b will start or  might have started which can soar prices. So wave a of wave b can move up  till 6